Bitcoin Mania

Is there a Bitcoin Mania? When we posted on Bitcoin last Monday we asked if you could be a millionaire by Thursday. Since that post went live, Bitcoin is up 61%. As our chart below shows, Bitcoin has gone parabolic. YTD Bitcoin is up 185% and over the last month it has gained 110%.

Maybe Bitcoin will turn out to be everything its promoters claim it to be. What isn’t a maybe is that a chart of Bitcoin bares a striking resemblance to the charts of almost every bubble in financial market history.

Jeremy Jones, CFA

Jeremy Jones, CFA is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. Jeremy is a contributing editor of youngresearch.com.